DHAHRAN – Saudi Aramco participated as a strategic partner in the Fourth Arab Housing Conference held on Dec. 21-22 in Riyadh, where it showcased its experience and expertise in the development of integrated residential complexes.
The objective of the Conference was to promote the role of various stakeholders in the field of housing, highlighting the importance of cooperation between the public and private sectors, and discussing the regulatory, legal and financial aspects in housing projects.
Addressing the conference, Muhammed Al Saggaf, Saudi Aramco Sr. Vice President for Operations and Business Services, said: “Saudi Aramco pursued a pioneering effort since the 1950s to develop a home ownership and development program for its employees with the construction of over 65,000 homes. Saudi Aramco’s residential communities development strategy rests on four elements: Building ‘model’ residential communities; complementing these communities with basic services, such as schools, health and recreational facilities; working in partnership with the private sector; and managing a ‘home ownership and loan program’ to attract and retain employees and provide them with a constructive incentive environment in support of their productivity and commitment to the company.”
Saudi Aramco showcased its long experience in building successful and active communities that support national plans for economic and social development. Saudi Aramco’s participation is part of its larger commitment to building a safe and vibrant society that supports national economic and social development efforts.
From its first residential complex up to its latest under-construction residential project “Ajial», Saudi Aramco has provided thousands of housing units, home loans and infrastructure to create successful communities. The Company leads a firm commitment to creating a better future for the Kingdom by building a knowledge-based economy that provides a supportive environment for positive interaction.
The company has granted 65,000 home loans since 1951 through its “Home Ownership Program” to help employees build or buy suitable housing. Currently, Saudi Aramco has about 5,000 housing units under construction in the cities of Jubail and Dammam, in addition to expansion projects of existing residential complexes.
Saudi Aramco has also established a total of 140 schools Kingdom-wide in its communities and has also provided 800 smart classrooms to support the development of science and mathematics programs, in addition to many other diverse projects and programs that lay the foundation for active and healthy communities. — SG
